CBN Halts Action on Cashless Policy

CBN Halts Action on Cashless Policy

The Central Bank of Nigeria (CBN) in agreement with the Bankers Committee on Friday put on hold the roll out of cashless policy exercise nationwide.

This is against the background of the plan to embark on infrastructural development in other states such that when it is rolled out, it will be without challenge to customers and to the banking public generally.

Currently cashless Nigeria is running in five States plus the federal capital territory. The states are Lagos, Ogun, Anambra, Rivers and Kano plus Abuja.

“Apart from cash the banking sector has invested a lot of money in building infrastructure to enhance safe transactions on e-payment platform. For instance we have the mobile payment and it is working efficiently within and outside the country. We encourage all the customers to migrate a whole lot of their transactions to these platform because it guarantees safety of money”, Segun Oloketuyi, managing director/CEO Wema Bank plc said while addressing the media after the Bankers Committee meeting held in Lagos.

Others who addressed the media after the meeting include Segun Agbaje, managing director/CEO Guarantee Trust Bank plc, Mary Akpobema, managing director, Enterprise Bank limited, and Ibrahim, Mu’azu, director, corporate communication, CBN.

Source: Business Day Online

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